An Empirical Research On Bankcard's Promotion Effect On Consumption

Originated in business credit card, with the commercial banks initiating issuing bank cards and the introduction of information technology to information processing transactions, bank cards was developed into the latest evolution of the current forms of money-electronic money, and will bring the human society into the era of electronic money and electronic payments. Bank card, as one kind of electronic money, has already induced enormous changes to consumer with the mode and habit of consumption payment, and its function of consumption micro-credit and electronic payment mode together impact profoundly on the consumption behavior of consumers, has a positive effect on promotion of consumption and economic growth.At present, financial crisis caused by the global economic downturn has had a major negative impact on the real economy in China; the growth of macro-economic slowed down significantly. China's export growth declined significantly due to the sharply fall in demand of foreign country, and it is negative growth now. Stimulating domestic demand to promote the growth of consumption has become a major economic crisis response method. In this context, the tone of macro-policy adjusted to proactive fiscal policy and loose monetary policy, and the Government issued a series of economic growth macroeconomic policies. April 2009, People's Bank of China together with Banking Regulatory Commission jointly issued a report with the title of "10 views on the structural adjustment of credit"; it reported clearly "to encourage the development of consumption credit, to make the market of consumption credit bigger and better". It can be foreseen, in order to inhibit the macro-economic downturn, consumption credit is an effective means to drive the growth of consumption and to promote the growth of economic.All of bank card industry, the mechanism of economic operation and the existing research literatures, have shown that bank cards have promotion effect on consumption. In this paper, firstly, an analysis of the characteristic of consumption behavior and the basic situation of credit card consumption credit of urban residents in China was summarized (Chapter II, Chapter III); the mechanisms of bank cards to promote consumption and economic growth was theoretically analyzed (Chapter IV); and the relevant research literatures were summarized and reviewed. Secondly, on this basis, based on the standpoint of bank card-based payment has an impact on consumer behavior and consumption credit card can effectively promote the consumption, three status were analyzed including to explore the effect of bank card payment mode on the consumption behavior of urban residents in China, the long-term relationship and short-term relationship between consumption by bank card and retail consumption, the long-term relationship and short-term relationship between consumption credit and consumption growth (Chapter V), A Comparative Study on the actual difference of bank cards to promote consumption in eight developed countries was carried on (Chapter VI), A Comparative Study on effect difference of banking card to drive consumption in various regions of China was performed (Chapter VII); the methods we used were the framework of econometric regression analysis, error correction model and panel data model. Finally, a brief summary and analysis the experience of promoting the development initiatives of bank cards industry from international, as well as the regulatory policies of guarantee the healthy development of the bank card industry was done (Chapter VIII); and an analysis of the industrial policy to promote the development of bank card industry in China was summarized, recommendations to further promote the health and rapid development of China's banking card industry were put forward (Chapter X).In this paper, the main body is composed of three models system (chapterâ…¤-â…§). The innovation of this paper is to explore to establish a model on the impact of bank card payment system to consumer behavior of urban residents, and a very good estimation model was achieved by empirical test, which was a breakthrough in the study of bank cards to consumer behavior at home and abroad. The characteristics of this paper is that, error correction model was used to empirical study the long-term relationship between consumption by bank card and retail consumption, the long-term relationship between consumption credit and consumption growth, respectively; panel data model was used to do comparison study on the role of bank cards to promote consumption among countries and regions, which was more comprehensive and in-depth to empirical analyze the function of bank cards to promote consumption.